The social network sent press invitations to a March 7 event at the company's offices in Menlo Park, Calif. "Come see a new look for News Feed," the invite reads.

Facebook did not give any clues as to what the new look would entail, though online speculation has already begun to fly.

The site's last big makeover came in January when Facebook unveiled Graph Search, a tool designed to help users search for information on the site. Not a stand-alone search engine like Google Search or Microsoft Bing, Facebook's new search feature is focused on culling data from users' friends and friends of friends.

Not all Facebook redesigns have been well-received but its users. For example, Facebook launched a redesign that coincided with its sixth anniversary in 2010. Comments about that redesign ranged from "New look is AWFUL!!!" to "Once more Facebook makes changes that don't work without doing proper testing."

That was nothing compared to the hubbub that Facebook caused in 2009 when it made changes to the homepage and its popular News Feed feature.

Another redesign launched earlier that year was so unpopular that Facebook folded under the pressure and tweaked its changes.